Oracle NetSuite Corporate Communications
Deep Industry Functionality Added to NetSuite and Tightly Integrated Partner Technologies Deliver a Comprehensive Vertical Solution
NETSUITE SUITEWORLD 2016, SAN JOSE, Calif.—May 18, 2016—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced the release of the NetSuite Retail Apparel Edition – created to address the growing challenges of apparel and accessory retailers. Built on NetSuite's unified, cloud-based platform for ERP, planning, ecommerce and point-of-sale (POS) technologies, the new solution adds features and functionality designed specifically for retailers and is further enhanced by complementary partner technologies. Apparel and accessory retailers can now accelerate time to value, streamline their operations and meet the ever-changing expectations of shoppers with a seamless, omnichannel customer experience.
Traditional ERP and retail management systems have historically failed to effectively serve apparel businesses as they expand from manufacturing and distribution, to selling direct to consumers, making their supply chain and customer relationships infinitely more complex. Purchasing one-off, disparate systems creates multiple data silos that are costly to maintain and actually degrade the customer experience.
“Apparel retailers require a platform that unifies their brand and their customers' experience. The multiple, back-office and front-end systems they struggle to keep in sync simply cannot keep up with their complex business models, selling channels and fast-paced trends,” NetSuite's General Manager of Global Retail, Branden Jenkins said. “At the same time, shoppers demand an engaging, omnichannel experience that moves with them as they constantly redefine the digital and in-store shopping journeys, rewarding retailers with their loyalty and repeat purchases along the way. NetSuite's cloud-based platform and industry-specific solution can solve these challenges and ensure that retailers will never be left behind again with outdated technology.”
Luxury accessories brand Hammitt replaced several on-premise systems with NetSuite to get a unified, operational foundation for its business. Hammitt currently relies on NetSuite for financials, inventory management, manufacturing, fulfilment, reporting, demand planning and reverse logistics. Unlike other companies that rely on legacy systems and commit to an entire season's order four to six months in advance, NetSuite's order management and forecasting capabilities enable Hammitt to replenish inventory with as little as three weeks lead time. Hammitt experiences more inventory turns per year than competitors, making more efficient use of capital and reducing its amount of unsold product.
“NetSuite's end-to-end solution provides the real-time visibility, reporting and planning capabilities needed to redefine our business and our industry,” Hammitt CEO, Tony Drockton said. “With NetSuite's Retail Apparel Edition we can accelerate innovation, expand our footprint and better serve our customers.”
The NetSuite Retail Apparel Edition builds on the functionality already in NetSuite's core platform with industry-specific features, including:
Unified Online and In-Store Shopping – Provide shoppers with seamless, omnichannel journeys that enhance a purchase, fulfil and return anywhere experience.
Enriched Online Experience – Shoppers get a range of apparel- and accessory-specific website features that can enhance and advance the buying process.
Optimised Inventory Allocation – Intelligently choose how to fulfil orders based inventory availability and pre-defined business rules.
Merchandise Management – Tools to streamline manual processes for entering sales, purchase, transfer and bulk orders.
Retail Business Operations – Increase time to value with built-in roles and business intelligence tools, shifting effort from configuring the solution to gaining rapid insight into operations.
To complement NetSuite's Retail Apparel Edition, key strategic partnerships between NetSuite and leading apparel solution providers offer merchants tightly-integrated, complementary solutions to NetSuite. Some of the many partnerships include WFX (World Fashion Exchange) – a provider of cloud-based, customizable software solutions which efficiently manage apparel product life cycles. Customer marketing technology from Clutch consolidates and analyses omnichannel customer and commerce activity, and allows consumers to manage their account and profile, and track their loyalty points, rewards and gift cards.
To learn more about NetSuite's Retail Apparel offering, please visit http://www.netsuite.com/fashion.
Today, more than 30,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of cloud-based financials/enterprise resource planning (ERP) and omnichannel commerce software applications for businesses of all sizes. Many FORTUNE 100 companies rely on NetSuite to accelerate innovation and business transformation. NetSuite continues its success in delivering the best cloud business management software to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.
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